CALGARY, AB,Feb. 4, 2021/CNW/ – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the “Company” or “E3 Metals”), an emerging lithium developer and leading lithium extraction technology innovator, is pleased to announce the opening of its direct lithium extraction (DLE) development and testing facility inCalgary. This facility will be the site of the continued progression towards commercialization of the Company’s DLE technology. This includes the scale-up and lab prototype campaign in preparation for the field pilot plant. All equipment within the facility is owned by E3 Metals’ and will be operated exclusively by E3 Metals’ growing team of technical experts. E3 Metals’ DLE process test work will continue to selectively extract lithium directly from oilfield brine sourced from the Leduc Reservoir within E3 Metals’ resource area. In addition, the Company will use the space to ramp up development of the full flowsheet; the production of lithium hydroxide from oilfield brine, throughout 2021.”We are very excited to be consolidating our direct lithium extraction process development work into our new E3 Metals’ testing facility right here inCalgary,” commented Chris Doornbos, E3 Metals’ President and CEO. “Our team is well on the way to transferring E3 Metals’ core process development work to Calgary and we anticipate full operational efficiency before the end of the month.”
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources in Alberta and an after-tax NPV8%on its Clearwater Lithium Project of USD 820M with a 27%1IRR. Through the successful scale up its direct lithium extraction (DLE) technology towards commercialization, E3 Metals’ goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. E3 Metals also continues to work with partners at theUniversity of Alberta and at GreenCentre Canada.
For more information about E3 Metals, visit http://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS, Chris Doornbos, President & CEO E3 METALS CORP.
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective December 21, 2020; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. All reports are available on the Company’s website (e3metalscorp.com/technical-reports) and SEDAR (www.sedar.com)
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements concerning the Offering and the use of the net proceeds therefrom, as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE e3 Metals Corp.View original content:http://www.newswire.ca/en/releases/archive/February2021/04/c5836.html